Haselkorn & Thibaut Initiates Investigation Into Jim Holmes, Former Wells Fargo Advisor Based in Winston Salem, North Carolina
If you have invested with Jim Holmes (CRD# 2174697) or your accounts were previously held at Wells Fargo or THREE Magnolias Financial Advisors, understanding recent developments is critical. Haselkorn & Thibaut, a national securities fraud law firm with over 50 years of combined experience and a 98% success rate, has opened an investigation into activities involving Mr. Holmes. Our firm is now offering free, confidential consultations to any investors who may have concerns or have experienced losses—call 1-888-994-8066.
About Jim Holmes – Investment Advisor in Winston Salem, NC
Table of Contents
Jim Holmes is a financial advisor with a long-standing career in the industry, spanning more than three decades. Currently, he serves as an investment advisor at THREE Magnolias Financial Advisors in Winston Salem, North Carolina.
Prior to this, Mr. Holmes was a registered broker with several prominent firms, most notably Wells Fargo Advisors, where he worked from October 2007 until June 2021. As of November 2025, he is not licensed as a broker but maintains his status as an investment advisor in North Carolina.
Summary Table: Jim Holmes’ Professional Background
| Field | Value |
|---|---|
| Advisor name | Jim Holmes |
| Advisor’s CRD | 2174697 |
| Broker-dealer | Formerly Wells Fargo |
| Current investment firm | THREE Magnolias Financial Advisors |
Regulatory Actions and Red Flags: What Investors Should Know
Recent regulatory findings against Jim Holmes are a cause for heightened awareness among investors. According to records from the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC), Mr. Holmes was recently sanctioned and suspended for violations related to the recommendation of unsuitable investment strategies.
Details of the FINRA Sanction
In November 2025, FINRA filed a Letter of Acceptance, Waiver, and Consent (No. 2022075386201) that outlined significant infractions:
- Unsuitable Recommendations: Mr. Holmes was found to have recommended uncovered, or “naked,” put options strategies to a customer who specifically requested income-generating investments with low risk and expressed an inability to afford principal loss.
- Inadequate Risk Alignment: The customer’s profile indicated limited investment experience and a low tolerance for risk, particularly as funds were earmarked for an imminent home purchase.
- Customer Account Losses: These options transactions led to financial losses for the client, largely due to the elevated risks associated with naked put options—products generally unsuitable for conservative or inexperienced investors.
- Regulation Best Interest Violation: FINRA concluded that Mr. Holmes failed to act in the customer’s best interest, as required by federal regulations.
- Disciplinary Action: As a result, Mr. Holmes was suspended from associating with any FINRA member firm for eight months, and ordered to pay a $10,000 fine.
Employment Termination and Additional Allegations
- Termination from Wells Fargo: In September 2024, Mr. Holmes was dismissed from Wells Fargo amid allegations of making discretionary trades in several clients’ accounts—another serious breach of protocol for most advisors unless they have explicit, documented permission from their clients.
- Active Regulatory Monitoring: Though his BrokerCheck record may not reflect all recent developments due to typical delays in reporting, these regulatory actions and employment history raise meaningful questions about the suitability of prior investment strategies recommended by Mr. Holmes.
Complaints and Formal Disclosures
- Pending Customer Complaint: One active customer complaint is recorded, alleging Mr. Holmes recommended unsuitable investments and strategies. The complaint, filed in April 2025, seeks damages of $500,000 and remains unresolved as of the latest update.
- Regulatory & Legal Actions: Aside from the recent FINRA action, as of the November 2025 review, there are no reported lawsuits, SEC enforcement actions, or state regulatory proceedings against Mr. Holmes.
- Link to Public Records: Investors may wish to review Mr. Holmes’ FINRA BrokerCheck profile for the most up-to-date information.
Red Flags to Consider
Investors should be alert to the following red flags in connection with Jim Holmes and similar advisor situations:
- Disregarding Customer Risk Tolerance: Recommendations that overlook clearly stated risk preferences and short-term financial goals—especially for major life events like home purchases—warrant immediate scrutiny.
- Unusual Investment Strategies: The use of high-risk strategies, such as naked options, for clients with conservative profiles.
- Unauthorized Discretionary Trading: Executing trades without the proper written authorization and client understanding is a serious breach of ethical standards.
- Pending Customer Complaints: The existence of unresolved investor complaints involving suitability, discretionary trading or other misconduct should be viewed as significant red flags.
What You Should Do Next
If you invested with Jim Holmes at Wells Fargo, THREE Magnolias Financial Advisors, or elsewhere, and experienced losses or are uncertain about the appropriateness of your investment strategy, you are not alone.
Haselkorn & Thibaut is actively investigating claims related to Mr. Holmes’ conduct. Our experienced attorneys have recovered millions for investors nationwide, and our process is always confidential and risk-free—there are no fees unless we recover for you.
- Request a free and confidential consultation today: 1-888-994-8066
- Review your own records and ask questions if you suspect any recommendations or trades were not fully explained or did not match your expressed goals and risk profile.
- Stay informed by checking your advisor’s background and regulatory history using FINRA’s BrokerCheck tool and consulting knowledgeable professionals.
Don’t wait to protect your financial future. A timely review of your account could make a significant difference in your ability to recover any mismanaged investments. Haselkorn & Thibaut’s dedicated team is here to help. Call us at 1-888-994-8066 to schedule your free case assessment.
You have rights as an investor. Let Haselkorn & Thibaut put their experience and track record to work for you.
